(Telecompaper) Polycom said it has terminated its previously announced USD 1.96 billion merger agreement with Canada's Mitel Networks and accepted one from Siris, for USD 12.50 per share in cash, or a total of USD 2 billion, including debt. A report had earlier noted the company received a higher offer from an unidentified private equity firm. Polycom will pay the requisite termination fee and then enter into a new merger agreement with Siris, previously described as "Sponsor 1" in Polycom's filings with the US Securities and Exchange Commission.